Starting a non-profit business, also known as a non-profit organization, involves establishing a legal entity dedicated to serving a social or charitable purpose rather than generating profits. Unlike for-profit businesses, any surplus funds in a non-profit are reinvested into the organization’s mission and operations.
Non-profit businesses play a crucial role in society, addressing various issues such as poverty, education, healthcare, environmental protection, and social justice. They offer numerous benefits, including tax exemptions, eligibility for grants and donations, and the opportunity to make a positive impact on the community.